Gifts
Thank You ‘Gifts’: Reinforce the belief that hard work will pay off. Reward employees for extra effort or time, but consider a ‘thank you gift’ rather than actual money, promotions, or salary increases. Suggested are the following: plants, food/gift baskets, cakes, household items, sports tickets, or a dinner. Make sure the ‘gift’ is a fraction of the actual value of the overtime, it will save your budget and create a sense of compensation, without having to pay ‘full price’ for the extra production.
I once delivered an initiative that saved the coy over $6.5m pa and was rewarded with a gift voucher to the local mall – value $30. The calculator in windows cannot even calculate a fraction that small!
My sister, who works in a nursing home, was given, along with the rest of the nursing staff, a Spend £30, save £5 voucher for a local supermarket as her xmas job gift by her employer
I once saved my employer approximately 300K for licensing fee fines. My reward was I got laid off.
In early 2000s when the financial market was booming, in a galaxy far far away (in London), a bunch of juniors on the trading floor worked from 7am to 1am every day because they were told they are part of a developing business and there is a sense of “belonging”!
Without these guys, nothing would have been done and the bunch of traders and managers would not have had a business. I witnessed how these guys were given McDonald’s vouchers on bonus day by one of the traders. It was as unreal an experience as Star Trek…